Debtor Execution Worries Assembly
Embargoes enforced by banks for non payment of debts have caused the Salvadoran Assembly to convene the financial system trade unions.
Thursday, July 9, 2009
Representative Alejandro Dagoberto Marroquím called for the Financial Committee of the Legislative Assembly to suspend embargoes through transitory measures.
Financial companies members of ASIFBAN are demanding the government more access to international financial resources.
Salvadoran banks want restrictions to be eliminated so that all financial institutions can share and have access to positive or negative credit histories of their customers.
Starting in January 2009, credit cooperatives and federation will be able to issue credit cards and checkbooks with the approval of the Financial System Superintendence.
ABANSA believes that the cost of accessing the $500 million made available with IDB funds is too high.
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